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understand the importance of your note in the market

The credit score is a tool widely used by financial institutions for credit consultation.

Thus, when someone requests credit in the market, such as a card, financing, loan, among others, the institution consults this score to verify their financial profile. Or, in other words, how likely are you to not pay your debts?

In this article, we will explain to you the importance of your credit score in the market. So, to find out more, check it out below.

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Understand the importance of your credit score in the market

So, first, for you to have a good credit score, you need to have good habits of paying bills on time. The higher the score, the greater the chances that companies will offer the requested credit. And the best: with lower interest rates.

This is because a credit score means that the consumer usually pays bills regularly, before the due date. As a result, the credit risk is much lower for the institution.

In addition, today the Serasa Score is calculated using Artificial Intelligence. The score is defined by different requirements regarding consumer behavior. Each of them has a weight. For example, credit payments (bills paid on time) have a weight of 43.6% in determining your score.

Finally, given the current economic situation, reducing the number of defaults is one of Serasa’s missions. Therefore, monitoring your credit score is a good way to follow good financial health.

In addition, as we have explained so far, building a good track record will allow you to have access to advantages when you need credit, allowing for greater movement of your economic activities and without losing control of your finances.

To learn more, visit the Serasa website and check your credit score for free!

Anyway, want to stay on top of everything that happens in the world of finance?

Then follow us on the YouTube channel and on our social networks such as Facebook, twitter, Instagram and Twitch. Thus, you will follow everything about digital banks, credit cards, loans, fintechs and matters related to the world of finance.

Image: Olivier Le Moal / Shutterstock.com

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